The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-03-16
MONEY, BONDS AND STOCKS.

a Very Dull Market, All Shares, However,
Showing Increased Firmness.
NEW YORK. March 15.-Money on call was
aasy at to 6 per cent, closing at 304.
Prime mercantile paper, 81 a 81 per cent
Sterling exchange was unsettled and weak at
"a. 49, for sxty-day bills and 81 864 for demand.
The total sales of stocks to-day were 22S, COL
shares, including the following: Delaware,
Lackawanna & Western. 24,3oO Erie, 1920;
Hooking Valley. $3.50; Kansas & Texas. 1900;
Lake Shore, 14,845; Louisville & Nashville,
1896; Reading, 33.300 Union Pacific, $3.50;
Western Union. 2S,945,
The stock market was much dul1er to-day, but
with the exception of few minutes in the
carly morning presented a firm front, and for
the most part the losses Of yesterday were ger-
orally recovered There was very little ham
mering Of stocks, and considerable covering Of
''shorts" was INDUCED in, but the chief element
In the improvement was the buying by the for
eign houses. Other influences favorable to
higher prices were the decline in sterling ex-
change rates and the vague rumors of q renewal
Of the negotiations in the Baltimore e.
Ohio Eaatter. These rumors generally were
to the effect that Messrs. Gould and Sage
were to become interested in the transaction,
and q meeting between Mr. Sully and the
two gentlemen named. which lasted the greater
part of the day. is believed to have been held at
che Office of Mr.. Sage. In the early morning
Richmond 6 West Point broke badly upon ru-
mors OF a disagreement in the board of directors,
and the resignation of the president was limited
at These stories were promptly denied, how
ever, and smart recovery soon followed. The
general market showed little feature of in
rerest, being dull, but steady appreciation of
values lasted from the first half hour to the close
of business. The movement gained force toward
the close. No more was heard of tho Hooking
Valley stories circulated yesterday, and the SO.
curities of that company recovered portion of
their losses The opening this morning was
Arm, first prices in majority of stocks, being
from q per cent above the final figures of last
evening, while Hooking Valley was up per
cent The hammering by the ''bears, y
and the extraordinary weakness in West
Point, which declined II per cent, carried
the general list down. and the gains Of
the opening were generally wiped out. A rally
of the first hour the early losses were regained.
After that time the market became dull, with
very slight fluctuations, though the changes
made were invariably in the direction of higher
prices until nearly p. NJ, when the market
sagged slightly. The last hour saw a renewal
of the upward movement, however, and the close
was moderately active and strong at the highest
prices of the day. Final changes in the active
list are invariably advances, and Hooking Valley
is up III Louisville & Nashville, II; Michigan
Central. Il; Lake Shore. Ii; Texas Pacific, !.
Railroad bonds were dull with considerable
irreeularity. though the majority were Arm.
The sales to-day aggregated $943, 900. Hooking
Valley fves rose 81. to 79a, and the SKIES pei
cent, to rs.
Government bonds were dali and rather heavy.
State bonds were dull and steady to arm.